Latest news with #EcopetrolGroup
Yahoo
14-07-2025
- Business
- Yahoo
Ecopetrol Supports Renewable Energy Portfolio with Full Acquisition of Windpeshi Wind Project
Ecopetrol (NYSE:EC) is one of the best low priced energy stocks to buy now. On July 8, Ecopetrol announced the completion of its acquisition of full ownership of Compañía Wind Autogeneración, which is the company responsible for the Windpeshi wind project in La Guajira, Colombia. This is a part of Ecopetrol's strategy to expand its renewable energy portfolio and contribute to Colombia's energy transition goals. The Windpeshi project is situated between the municipalities of Uribia and Maicao and will have an installed capacity of 205 MW for wind energy production. Once operational, it is expected to generate an average of 1,006 gigawatt hours/GWh per year, meeting between 8% and 9% of the Ecopetrol Group's total energy demand. The project will feature 41 turbines, each with a capacity of 5 MW. A fleet of tanker ships crossing the sea as they deliver oil and gas to their destinations. Ecopetrol plans to begin construction of the Windpeshi project by the end of 2025, to achieve commercial operations before 2028. This project is anticipated to reduce energy costs for the Ecopetrol Group and advance Colombia's decarbonization efforts. It is estimated to reduce CO₂ emissions by 4.8 million tonnes over its useful life and will involve investments totaling ~$350 million between 2025 and 2027. Ecopetrol (NYSE:EC) is an integrated energy company with 4 segments: Exploration & Production; Transport & Logistics, Refining & Petrochemicals, and Electric Power Transmission & Toll Roads Concessions. While we acknowledge the potential of EC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
27-06-2025
- Business
- Yahoo
Continuation of the customs adjustment process initiated by the Tax Authority
BOGOTA, Colombia, June 26, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC, the "Company" or "Ecopetrol" and together with its subsidiaries, the "Ecopetrol Group") informs that on May 29, 2025, the Dirección de Impuestos y Aduanas Nacionales (the "Tax Authority") notified Refinería de Cartagena S.A.S. (the "Refinery") of two resolutions mandating the Refinery to conduct correction assessments in relation to customs import declarations for gasoline. In accordance with the Tax Authority's interpretation of the law, the Refinery owed approximately COP 1.0 trillion, plus estimated interests to date of COP 2.1 trillion, for the import of gasoline between 2022 and 2024. On June 26, 2025, the Refinery filed the corresponding motions for reconsideration against the aforementioned customs correction assessments. The official assessments notified by the Tax Authority to the Refinery reflect the continued differences in regulatory interpretation between the Tax Authority and the Ecopetrol Group—an issue that the Refinery has detailed in its motions for reconsideration. Considering that the Tax Authority has decided to apply its regulatory interpretation, Ecopetrol and the Refinery have been making VAT payments on gasoline and diesel imports at the 19% rate since January 2025. It is important to note that these VAT payments do not affect Ecopetrol's and the Refinery's rights to challenge the Tax Authority's interpretation at the appropriate time and before the relevant authorities. Ecopetrol and the Refinery reaffirm their commitment to fully comply with their customs and tax obligations and will respect the decisions issued in this matter by the competent authorities, as stated on May 6, 2025 in a communication published through this medium. Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the Company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. For more information, please contact: Head of Capital Markets Carolina Tovar Aragón Email: investors@ Head of Corporate Communications (Colombia)Marcela Ulloa Email: View original content to download multimedia: SOURCE Ecopetrol S.A.
Yahoo
05-03-2025
- Business
- Yahoo
Ecopetrol S.A.: STRONG OPERATIONAL AND FINANCIAL GOAL ACHIEVEMENT
BOGOTA, Colombia , March 4, 2025 /PRNewswire/ -- 2024 concluded with a robust operating performance that boosted our results across the company aligned with the goals set out at the beginning of the year. We introduced a solid financial and investment plan for 2025, which is the result of a rigorous planning process of the entire Ecopetrol Group, aiming to create sustainable value for our shareholders. Through our efficiencies program on EBITDA, capex and working capital, we achieved historic optimizations for COP 5.3 trillion. In 2024, we registered revenues of COP 133.3 trillion, net income of COP 14.9 trillion, an EBITDA of COP 54.1 trillion, and an EBITDA margin of 41%. The gross debt/EBITDA ratio was 2.2 times and the return on capital employed (ROACE) was 10.2%. We invested USD 6,119 million (COP 24.9 trillion), with organic investments of USD 5,880 million (COP 23.9 trillion) and inorganic growth of USD 239 million (~COP 1 trillion). We contribute to the country with total transfers to our shareholders amounting COP 42 trillion. In the hydrocarbons business line, we highlight a 104% reserve replacement, incorporating 260 MBPE. Our consolidated current assets reached a reserves replacement ratio of 111% and in Colombia 121%, proving their potential. Furthermore, thanks to the closing of the transaction with Repsol, where we became the sole owner of the CPO-09 field, we added 32 MBPE to our reserves. The average reserve life stands at 7.6 years, of which 7.8 years correspond to liquids and 6.7 years to gas. Moreover, we highlight the extension of the Joint Venture in the Permian. Our production's positive performance, stood at 746 kboed, exceeding the year's expectations, representing a 1.2% increase compared to the previous year. Additionally, in the midstream we surpassed our target with transported volumes of 1,119 kbd (+5.8) and in the downstream, we successfully completed the annual plan of plant shutdowns and major maintenances, achieving a refining throughput of 414 kbd (-5.8), highlighting an operational availability of 94.5% These results were also supported by an effective commercial strategy, where crude oil inventory realization allowed ending the year without inventories in transit. The accounting differential of the crude oil basket was USD 6.5/bl compared to USD 8.7/bl in 2023. This improvement was achieved through our geographic diversification enhanced by our trading branches in Colombia, United States and Singapore, capturing market opportunities, and maximizing benefits for the Group. In the same vein, in 4Q24, third party crude trading operations were carried out with WTI Midland, Vasconia, and Oriente crude oils, for a total of 1.6 million barrels destined to USA, Africa, and Jamaica, leveraging the business strategic goals, and allowing us to improve Ecopetrol's position as for intermediate and light crude oil. As regards to Energies for the Transition, we emphasize an energy optimization of 4,17 PJ with an impact on 349,735 tons of CO2e, and savings around COP 128 billion in the operations of the Ecopetrol Group. Further, in 4Q24, we stress the approval of Phase III of the Coral project, with a production capacity up to 880 tons per day of green hydrogen at the Cartagena Refinery. Finally, in Transmission and Toll Roads, ISA was awarded the first tender of the Transmission Mission Plan of the Mining-Energy Planning Unit (UPME) to guarantee and secure the reliability of the electrical system of the Colombian Caribbean coast. Likewise, we recognize the ISA's relevant contribution to the Ecopetrol's Group EBITDA. Looking ahead in 2025, we will continue adding value and profitability to our shareholders based on strict capital discipline, efficiencies and the strengthening of our traditional business to reinforce energies for the transition. All the above, framed in a solid corporate governance and robust institutional framework. I thank all the employees of the Ecopetrol Group for their hard work in 2024 and encourage them to keep moving forward along this new year. Ricardo Roa Barragán President of Ecopetrol S.A. The Ecopetrol Business Group achieved: i) the highest production level in the last 9 years at 746 kboed, ii) a record sales volume of 1,012 kboed, iii) high levels of capital investment amounting to USD 6.1 billion, iv) efficiencies incorporation by COP 5.3 trillion and, v) a reserve replacement ratio of 104%. These achievements enabled the EBITDA generation of COP 54.1 trillion, a net income attributable to shareholders of COP 14.9 trillion and an EBITDA margin of 41%, in an environment of lower prices, inflation and external challenges. Table 1: Financial Summary Income Statement - Ecopetrol Group Billion (COP)4Q 2024 4Q 2023 ∆ ($) ∆ (%)12M 2024 12M 2023 ∆ ($) ∆ (%) Total revenue34,792 34,794 (2) (0.0 %)133,328 143,079 (9,751) (6.8 %) Depreciation, amortization and depletion3,789 3,540 249 7.0 %14,646 13,205 1,441 10.9 % Variable costs14,092 14,224 (132) (0.9 %)50,545 55,906 (5,361) (9.6 %) Fixed costs6,313 5,543 770 13.9 %21,290 19,067 2,223 11.7 % Total cost of sales24,194 23,307 887 3.8 %86,481 88,178 (1,697) (1.9 %) Gross income10,598 11,487 (889) (7.7 %)46,847 54,901 (8,054) (14.7 %) Operating and exploratory expenses1,657 3,787 (2,130) (56.2 %)9,254 11,155 (1,901) (17.0 %) Operating income8,941 7,700 1,241 16.1 %37,593 43,746 (6,153) (14.1 %) Financial result, net(2,376) (1,486) (890) 59.9 %(8,519) (5,665) (2,854) 50.4 % Share of profit of companies262 199 63 31.7 %764 805 (41) (5.1 %) Income before income tax6,827 6,413 414 6.5 %29,838 38,886 (9,048) (23.3 %) Provision for income tax(2,502) (454) (2,048) 451.1 %(10,921) (14,692) 3,771 (25.7 %) Consolidated net income4,325 5,959 (1,634) (27.4 %)18,917 24,194 (5,277) (21.8 %) Non-controlling interest(1,132) (851) (281) 33.0 %(4,680) (4,243) (437) 10.3 % Net income attributable to owners of Ecopetrol before impairment3,193 5,108 (1,915) (37.5 %)14,237 19,951 (5,714) (28.6 %) (Expense) income from impairment of long-term assets876 (2,087) 2,963 (142.0 %)867 (2,098) 2,965 (141.3 %) Deferred tax on impairment (171) 1,207 (1,378) (114.2 %)(169) 1,209 (1,378) (114.0 %) Net income attributable to owners of Ecopetrol3,898 4,228 (330) (7.8 %)14,935 19,062 (4,127) (21.7 %)EBITDA11,877 12,251 (374) (3.1 %)54,143 60,718 (6,575) (10.8 %) EBITDA Margin34.1 % 35.2 % - (1.1 %)40.6 % 42.4 % - (1.8 %) The figures included in this report are audited and are expressed in billions of Colombian pesos (COP), or United States dollars (USD), or thousands of barrels of oil equivalent per day (kboed) or tons and are indicated as such when applicable. For the purposes of presentation, certain figures in this report were rounded to the nearest decimal place. Forward-looking Statements: This release may contain forward-looking statements related to business prospects, estimates for operating and financial results, and growth of Ecopetrol. These are projections and, as such, are based solely on management's expectations regarding the future of the Company and its permanent access to capital to fund its business plan. Such forward-looking statements depend, basically, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, without limitation thereto; therefore, they are subject to change without prior notice. Contact: investors@ View original content to download multimedia: SOURCE Ecopetrol S.A. Sign in to access your portfolio
Associated Press
05-03-2025
- Business
- Associated Press
Ecopetrol S.A.: STRONG OPERATIONAL AND FINANCIAL GOAL ACHIEVEMENT
BOGOTA, Colombia , March 4, 2025 /PRNewswire/ -- 2024 concluded with a robust operating performance that boosted our results across the company aligned with the goals set out at the beginning of the year. We introduced a solid financial and investment plan for 2025, which is the result of a rigorous planning process of the entire Ecopetrol Group, aiming to create sustainable value for our shareholders. Through our efficiencies program on EBITDA, capex and working capital, we achieved historic optimizations for COP 5.3 trillion. In 2024, we registered revenues of COP 133.3 trillion, net income of COP 14.9 trillion, an EBITDA of COP 54.1 trillion, and an EBITDA margin of 41%. The gross debt/EBITDA ratio was 2.2 times and the return on capital employed (ROACE) was 10.2%. We invested USD 6,119 million (COP 24.9 trillion), with organic investments of USD 5,880 million (COP 23.9 trillion) and inorganic growth of USD 239 million (~COP 1 trillion). We contribute to the country with total transfers to our shareholders amounting COP 42 trillion. In the hydrocarbons business line, we highlight a 104% reserve replacement, incorporating 260 MBPE. Our consolidated current assets reached a reserves replacement ratio of 111% and in Colombia 121%, proving their potential. Furthermore, thanks to the closing of the transaction with Repsol, where we became the sole owner of the CPO-09 field, we added 32 MBPE to our reserves. The average reserve life stands at 7.6 years, of which 7.8 years correspond to liquids and 6.7 years to gas. Moreover, we highlight the extension of the Joint Venture in the Permian. Our production's positive performance, stood at 746 kboed, exceeding the year's expectations, representing a 1.2% increase compared to the previous year. Additionally, in the midstream we surpassed our target with transported volumes of 1,119 kbd (+5.8) and in the downstream, we successfully completed the annual plan of plant shutdowns and major maintenances, achieving a refining throughput of 414 kbd (-5.8), highlighting an operational availability of 94.5% These results were also supported by an effective commercial strategy, where crude oil inventory realization allowed ending the year without inventories in transit. The accounting differential of the crude oil basket was USD 6.5/bl compared to USD 8.7/bl in 2023. This improvement was achieved through our geographic diversification enhanced by our trading branches in Colombia, United States and Singapore, capturing market opportunities, and maximizing benefits for the Group. In the same vein, in 4Q24, third party crude trading operations were carried out with WTI Midland, Vasconia, and Oriente crude oils, for a total of 1.6 million barrels destined to USA, Africa, and Jamaica, leveraging the business strategic goals, and allowing us to improve Ecopetrol's position as for intermediate and light crude oil. As regards to Energies for the Transition, we emphasize an energy optimization of 4,17 PJ with an impact on 349,735 tons of CO2e, and savings around COP 128 billion in the operations of the Ecopetrol Group. Further, in 4Q24, we stress the approval of Phase III of the Coral project, with a production capacity up to 880 tons per day of green hydrogen at the Cartagena Refinery. Finally, in Transmission and Toll Roads, ISA was awarded the first tender of the Transmission Mission Plan of the Mining-Energy Planning Unit (UPME) to guarantee and secure the reliability of the electrical system of the Colombian Caribbean coast. Likewise, we recognize the ISA's relevant contribution to the Ecopetrol's Group EBITDA. Looking ahead in 2025, we will continue adding value and profitability to our shareholders based on strict capital discipline, efficiencies and the strengthening of our traditional business to reinforce energies for the transition. All the above, framed in a solid corporate governance and robust institutional framework. I thank all the employees of the Ecopetrol Group for their hard work in 2024 and encourage them to keep moving forward along this new year. Ricardo Roa Barragán President of Ecopetrol S.A. The Ecopetrol Business Group achieved: i) the highest production level in the last 9 years at 746 kboed, ii) a record sales volume of 1,012 kboed, iii) high levels of capital investment amounting to USD 6.1 billion, iv) efficiencies incorporation by COP 5.3 trillion and, v) a reserve replacement ratio of 104%. These achievements enabled the EBITDA generation of COP 54.1 trillion, a net income attributable to shareholders of COP 14.9 trillion and an EBITDA margin of 41%, in an environment of lower prices, inflation and external challenges. Table 1: Financial Summary Income Statement - Ecopetrol Group Billion (COP) 4Q 2024 4Q 2023 ∆ ($) ∆ (%) 12M 2024 12M 2023 ∆ ($) ∆ (%) Total revenue 34,792 34,794 (2) (0.0 %) 133,328 143,079 (9,751) (6.8 %) Depreciation, amortization and depletion 3,789 3,540 249 7.0 % 14,646 13,205 1,441 10.9 % Variable costs 14,092 14,224 (132) (0.9 %) 50,545 55,906 (5,361) (9.6 %) Fixed costs 6,313 5,543 770 13.9 % 21,290 19,067 2,223 11.7 % Total cost of sales 24,194 23,307 887 3.8 % 86,481 88,178 (1,697) (1.9 %) Gross income 10,598 11,487 (889) (7.7 %) 46,847 54,901 (8,054) (14.7 %) Operating and exploratory expenses 1,657 3,787 (2,130) (56.2 %) 9,254 11,155 (1,901) (17.0 %) Operating income 8,941 7,700 1,241 16.1 % 37,593 43,746 (6,153) (14.1 %) Financial result, net (2,376) (1,486) (890) 59.9 % (8,519) (5,665) (2,854) 50.4 % Share of profit of companies 262 199 63 31.7 % 764 805 (41) (5.1 %) Income before income tax 6,827 6,413 414 6.5 % 29,838 38,886 (9,048) (23.3 %) Provision for income tax (2,502) (454) (2,048) 451.1 % (10,921) (14,692) 3,771 (25.7 %) Consolidated net income 4,325 5,959 (1,634) (27.4 %) 18,917 24,194 (5,277) (21.8 %) Non-controlling interest (1,132) (851) (281) 33.0 % (4,680) (4,243) (437) 10.3 % Net income attributable to owners of Ecopetrol before impairment 3,193 5,108 (1,915) (37.5 %) 14,237 19,951 (5,714) (28.6 %) (Expense) income from impairment of long-term assets 876 (2,087) 2,963 (142.0 %) 867 (2,098) 2,965 (141.3 %) Deferred tax on impairment (171) 1,207 (1,378) (114.2 %) (169) 1,209 (1,378) (114.0 %) Net income attributable to owners of Ecopetrol 3,898 4,228 (330) (7.8 %) 14,935 19,062 (4,127) (21.7 %) EBITDA 11,877 12,251 (374) (3.1 %) 54,143 60,718 (6,575) (10.8 %) EBITDA Margin 34.1 % 35.2 % - (1.1 %) 40.6 % 42.4 % - (1.8 %) The figures included in this report are audited and are expressed in billions of Colombian pesos (COP), or United States dollars (USD), or thousands of barrels of oil equivalent per day (kboed) or tons and are indicated as such when applicable. For the purposes of presentation, certain figures in this report were rounded to the nearest decimal place. Forward-looking Statements: This release may contain forward-looking statements related to business prospects, estimates for operating and financial results, and growth of Ecopetrol. These are projections and, as such, are based solely on management's expectations regarding the future of the Company and its permanent access to capital to fund its business plan. Such forward-looking statements depend, basically, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, without limitation thereto; therefore, they are subject to change without prior notice.
Yahoo
20-02-2025
- Business
- Yahoo
Ecopetrol Group replaced 104% of its production, doubling the 2023 incorporation of proven reserves.
The incorporation of proven reserves for the Ecopetrol Group was 260 MBOE1, 2.2 times compared to 2023 Proven reserves amounted to 1,893 MBOE. The 2024 total production was replaced with an additional 4%. 89% of the reserves were originated from fields in Colombia and the remaining 11% in the United States. BOGOTA, Colombia, Feb. 20, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL, NYSE: EC) announced today its proven reserves of oil, condensates, and natural gas (1P reserves), which includes the results of Ecopetrol S.A., its subsidiaries and affiliates, as of December 31, 2024. 99.2% of the reserves were estimated and certified based on the standards and methodology of the US Securities and Exchange Commission (SEC) by three recognized, specialized, and independent firms (Ryder Scott Company, DeGolyer and MacNaughton, and Gaffney, Cline & Associates), and the remaining 0.8%, were certified by Ecopetrol's Resources and Reserves Management. The 2024 reserves were valued based on the Brent reference price of USD 79.7/bbl compared to USD 82.8/bbl used in 2023. By the end of 2024, the Ecopetrol Group's net proven reserves amounted 1,893 MBOE (+10 MBOE versus 2023). The reserve replacement ratio was 104%2, and the average reserve life was 7.6 years (7.8 years for liquids and 6.7 years for gas). In 2024, the Ecopetrol Group incorporated 260 MBOE of proven reserves, the highest in the last three years, of which 244.3 MBOE were crude oil and 15.3 MBOE gas, for a total accumulated production for the year of 250 MBOE3, the highest in the last nine years. Of the total balance of proven reserves, 80% are liquids reserves and 20% are gas reserves. Organically, 231 MBOE4 were incorporated through the timely maturation of new projects and the execution and implementation of primary development and enhanced recovery expansion projects in fields like Caño Sur, Rubiales, Castilla, Chichimene, Akacias, Pauto-Floreña, La Cira-Infantas, Apiay-Suria, Palogrande, among others. Inorganically, net of acquisitions and divestments, 29 MBOE were incorporated by the Ecopetrol Group in 2024, including the successful acquisition of the 45% stake from Repsol Colombia Oil & Gas in the CPO-09 block, located in the Meta department, consolidating 100% ownership of this strategic asset in the Piedemonte Llanero, by adding 32 MBOE. The increase in reserves achieved in 2024 is one of the pillars of the Ecopetrol Group's strategy to ensure its long-term sustainability. Ecopetrol Group Proven Reserves 2024 (Millions of Barrels of Oil Equivalent – MBOE) 2024 2023 2022 Initial Reserves (January 1st) 1,883 2,011 2,002 Revisions 84.4 9 63 Enhanced Recovery 97 93 81 Extensions and Discoveries 49.2 17 57 Minerals Sales -6 0 0 Minerals Purchases 35 0 48 Production -250 -247 -240 Year-end Proved Reserves 1,893 1,883 2,011 On the gas front, the net incorporation of 15 MBOE stands out, due to: i) projects related with new development wells and infrastructure optimization with pressure reduction in the Piedemonte Llanero in the Pauto and Floreña fields, ii) execution plan of activities in Permian, and iii) commerciality of Arrecife, which partially offset the impacts of water intrusion in the Cupiagua, Cusiana, Guajira, and Gibraltar fields. Ecopetrol Permian LLC incorporated 22 MBOE5 mainly as a result of optimizations made in drilling campaigns in the Midland and Delaware sub-basins in Texas, United States. Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. For more information, please contact: Head of Capital Markets Carolina Tovar Aragón Email: investors@ Head of Corporate Communications (Colombia) Marcela Ulloa Email: 1 Millions of Barrels of Oil Equivalent 2 For Colombian operations the RRR was 109%.3 Production corresponding to the stake of the Ecopetrol Group, including internal gas consumption for operation, gas royalties in Colombia, excluding crude oil royalties and international gas royalties.4 Includes changes in revisions, enhanced recovery, and extensions and discoveries.5 Organic incorporation 29 MBOE, economic factors -4 MBOE, acquisitions and divestments -3 MBOE. View original content to download multimedia: SOURCE Ecopetrol S.A. Sign in to access your portfolio
